Speaker Romualdez Credits Economic Policies for Boosting Employment

Speaker Martin Romualdez recently highlighted the effectiveness of the government’s economic strategies in enhancing the employment landscape, as evidenced by a significant reduction in unemployment to a five-month low of 3.2 percent in November 2024. In a statement, Romualdez linked the positive employment trend to the robust economic growth under President Ferdinand R. Marcos Jr.’s leadership. He expressed satisfaction with the increasing number of Filipinos finding jobs and working more hours. The Philippine Statistics Authority’s November Labor Force Survey confirmed the drop in unemployment from 3.9 percent in October to 3.2 percent, affecting 1.66 million Filipinos. Additionally, the underemployment rate decreased from 12.6 percent to 10.8 percent over the same period. Romualdez pointed out that the government continues to support those still out of work through initiatives like the Ayuda para sa Kapos ang Kita Program (AKAP) and the Assistance to Individuals in Crisis Situation (AICS) from the Department of Social Welfare and Development (DSWD). Further assistance comes from the Department of Labor and Employment’s (DOLE) Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) program and the Technical Education and Skills Development Authority’s (TESDA) training and retooling efforts. Romualdez emphasized the House of Representatives’ dedication to collaborating with the administration to maintain economic momentum and create more job opportunities. He acknowledged the challenge but remained optimistic about addressing it for the nation’s benefit. The National Economic and Development Authority (NEDA) has also committed to focusing on improving job quality and income for Filipinos. NEDA Secretary Arsenio Balisacan stressed the importance of a strong labor market and the need to expand business and employment opportunities. He advocated for business upgrades and skills training to ensure competitive wages and increased productivity. NEDA’s approach includes investing in sectors that generate quality jobs, enhancing workforce mobility, and improving employment services. Balisacan also highlighted the necessity of adapting to new work arrangements to meet the evolving needs of workers and organizations. He praised the timely enactment of the CREATE MORE Act and the EBET Framework Act, which are expected to improve the business environment, attract investments, and create more jobs.